maximum Sec 80C deduction for principal payment of 2 houses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 March 2010
I am claiming housing loan principal deduction under Sec 80C for income tax. I want to buy one more house.
Can I claim housing loan principal on two houses for IT exemption? If yes, what is the maximum deduction allowed for both interest and principal payment?
Can I claim housing loan principal on two houses for IT exemption? If yes, what is the maximum deduction allowed for both interest and principal payment?
19 March 2010
yes you can claim for both the houses provided.
1. they should be in difference cities
or
2. out of 2 one should be in your citi (where you work) and another should in other citi.
Miximum to claim priciple is 1 lac, i.e. u/s 80 C.
this is what employer can give you exemption.
if you want to claim saparately you can claim for maximum houses against which you will not get your principle exempted but your whole interest components alongwith Standered deducted and expenses like municiple tax payment etc.
Nazir
1. they should be in difference cities
or
2. out of 2 one should be in your citi (where you work) and another should in other citi.
Miximum to claim priciple is 1 lac, i.e. u/s 80 C.
this is what employer can give you exemption.
if you want to claim saparately you can claim for maximum houses against which you will not get your principle exempted but your whole interest components alongwith Standered deducted and expenses like municiple tax payment etc.
Nazir
Murtaza I Bhagat
(Expert)
19 March 2010
yes you can u/s 24 max 1,00,000/- in 80C and interest of 1,50,000/- max.in a year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Under marginal scheme
- Oct 2025 Invoices
- TAX AUDIT ON PROFESSIONAL INCOME
- Capitalgain tax purposes for valuation report compulsory
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TDS on Fixed Assets purchased
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Capital Gail Exemption Certificate
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
